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THE WOODLANDS, Texas - TETRA Technologies, Inc. (NYSE: TTI), an energy services company trading at $3.46 per share, announced that its upcoming 2025 Annual Meeting of Shareholders will proceed as scheduled and will be uncontested. This follows the withdrawal of four director nominees by an investor group led by Brad Radoff. The company, which InvestingPro analysis indicates is currently undervalued, is set to file a definitive proxy statement with the U.S. Securities and Exchange Commission shortly.
The withdrawal of the investor group’s nominees means there will be no competition for the election of directors at the meeting. TETRA’s board and management expressed their gratitude to shareholders for their constructive engagement and anticipate ongoing dialogue with them in the lead-up to the annual event.
TETRA Technologies operates globally, providing a range of services and solutions to the energy sector, including oil and gas industry support, industrial chemicals, and a growing focus on sustainable energy through its Lithium Ventures. With a market capitalization of $458 million and a healthy current ratio of 2.19, the company maintains strong liquidity to support its operations. The company aims to contribute to the demand for sustainable energy solutions with its expertise in chemistry, mineral resources, and infrastructure. InvestingPro data reveals 7 additional key insights about TETRA’s financial health and market position.
The company’s press release also contained forward-looking statements regarding expectations for future events and performance. These statements are based on assumptions and analyses by the company and are subject to risks and uncertainties, which could cause actual results to differ materially. With analysts maintaining a strong buy consensus and projecting significant upside potential, shareholders are advised to read the upcoming proxy statement and other relevant documents filed with the SEC for detailed information about the annual meeting. For comprehensive analysis and detailed metrics, investors can access TETRA’s full research report through InvestingPro, which provides in-depth coverage of over 1,400 US stocks.
The announcement is based on a press release statement, and TETRA Technologies looks forward to its annual meeting, where it will continue to engage with its shareholders on the company’s progress and strategic direction.
In other recent news, Tetra Technologies Inc. reported its fourth-quarter 2024 earnings, meeting expectations for earnings per share at $0.03 but falling short on revenue with $135 million compared to the anticipated $139.17 million. Despite the revenue miss, the company saw improved EBITDA margins and record performance in its Industrial Chemicals segment. Tetra Technologies is also exploring strategic expansions, including potential developments in bromine and lithium production. In a separate development, the Radoff-Torok Group, which holds over 4.9% of Tetra Technologies, has nominated four independent candidates for the company’s board, advocating for significant governance changes. This move is aimed at addressing what the group perceives as long-term underperformance and governance issues. The group plans to file a preliminary proxy statement to solicit votes for their nominees ahead of Tetra Technologies’ 2025 Annual Meeting of Stockholders. These recent developments highlight the ongoing strategic and governance challenges facing Tetra Technologies.
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